Travel + Leisure (NYSE:TNL) Reaches New 1-Year High Following Strong Earnings

Travel + Leisure Co. (NYSE:TNL) shares reached a new 52-week high during trading on Wednesday following a stronger than expected earnings report. The stock traded as high as $57.81 and last traded at $57.36, with a volume of 64847 shares changing hands. The stock had previously closed at $57.45.

The company reported $1.72 EPS for the quarter, beating the consensus estimate of $1.68 by $0.04. Travel + Leisure had a negative return on equity of 48.06% and a net margin of 10.99%.

Analyst Ratings Changes

Several brokerages have commented on TNL. JPMorgan Chase & Co. lifted their target price on Travel + Leisure from $56.00 to $63.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. The Goldman Sachs Group upped their price objective on shares of Travel + Leisure from $49.00 to $59.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Barclays lifted their target price on shares of Travel + Leisure from $41.00 to $48.00 and gave the stock an “underweight” rating in a research note on Friday, December 13th. Bank of America raised Travel + Leisure from an “underperform” rating to a “buy” rating and boosted their price objective for the company from $40.00 to $60.00 in a research note on Monday, January 27th. Finally, Morgan Stanley began coverage on Travel + Leisure in a research note on Monday, January 6th. They set an “overweight” rating and a $67.00 target price for the company. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $60.50.

Insider Activity

In other Travel + Leisure news, insider Geoffrey Richards sold 9,400 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $56.56, for a total value of $531,664.00. Following the completion of the sale, the insider now owns 111,202 shares in the company, valued at approximately $6,289,585.12. This trade represents a 7.79 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 4.02% of the company’s stock.

Institutional Trading of Travel + Leisure

A number of hedge funds have recently bought and sold shares of TNL. Barclays PLC lifted its stake in Travel + Leisure by 80.4% in the third quarter. Barclays PLC now owns 225,326 shares of the company’s stock valued at $10,383,000 after purchasing an additional 100,440 shares during the last quarter. Versor Investments LP boosted its holdings in Travel + Leisure by 45.4% in the 3rd quarter. Versor Investments LP now owns 40,290 shares of the company’s stock worth $1,857,000 after buying an additional 12,585 shares during the period. FMR LLC boosted its holdings in Travel + Leisure by 28.5% in the 3rd quarter. FMR LLC now owns 261,599 shares of the company’s stock worth $12,054,000 after buying an additional 58,008 shares during the period. Oak Thistle LLC purchased a new position in Travel + Leisure in the 4th quarter valued at approximately $1,288,000. Finally, International Assets Investment Management LLC lifted its position in shares of Travel + Leisure by 4,532.8% during the third quarter. International Assets Investment Management LLC now owns 5,374 shares of the company’s stock worth $248,000 after acquiring an additional 5,258 shares in the last quarter. 87.54% of the stock is currently owned by institutional investors.

Travel + Leisure Price Performance

The stock has a market capitalization of $3.94 billion, a P/E ratio of 9.77, a price-to-earnings-growth ratio of 0.65 and a beta of 1.64. The stock has a fifty day moving average price of $52.90 and a 200 day moving average price of $49.26.

Travel + Leisure Company Profile

Travel + Leisure Co, together with its subsidiaries, provides hospitality services and travel products in the United States and internationally. The company operates in two segments, Vacation Ownership; and Travel and Membership. The Vacation Ownership segment develops, markets, and sells vacation ownership interests (VOIs) to individual consumers, as well as provides consumer financing in connection with the sale of VOIs; and property management services at resorts.